Flex Space with Central
For Sale
$1,950,000
417 W Santa Fe Avenue, Flagstaff, AZ 86001
Commercial Sale, Flagstaff, AZ
Property Size6,029 SF
Lot Size0.14 Acres
Price / SF$323.44
Days on Market440
Property Features for 417 W Santa Fe Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Window features
Skylight(s)
Directions
Traveling east on Route 66, turn left onto Milton, follow for .5 miles and take left after crossing under RR tracks. Building is on the left.
Subdivision
145 - Flagstaff Townsite
Standard status
Active
APN
10022022
Size
6,029 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SUBDIVISION: FLAGSTAFF TOWNSITE BLOCK: D1 LOT: 8 WLY 13' LOT 7 ; A PCL DESC BY M&B BEG AT SW COR OF LOT 8 TH SWLY ALNG A
Tax Annual Amount
3456
Legal Description
SUBDIVISION: FLAGSTAFF TOWNSITE BLOCK: D1 LOT: 8 WLY 13' LOT 7 ; A PCL DESC BY M&B BEG AT SW COR OF LOT 8 TH SWLY ALNG A
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1945
Roof type
Built-Up, Flat
Listing Agency:
eXp Realty, LLC
(928) 288-5252
Listed By:
Stephen Broaddus · License #SA676035000
(928) 864-7036
Added: Jun 9, 2025
Changed: Aug 19
Last Checked: Aug 22 at 7:06AM
MLS# 201055
Copyright © 2026 Northern Arizona Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
417 W Santa Fe Avenue offers a 6,029 SF flexible commercial building on a 0.14-acre lot, designed to support warehouse, shop, and studio-style operations under one roof. The property features central heating and central air, with a built-up, flat roof and cable available for communications and business needs.
Located in downtown Flagstaff, the building is positioned for visibility and foot traffic during Flagstaff’s spring and summer seasons. It’s also about two miles from I-40, making it convenient for out-of-town visitors and travelers.
Built in 1945, the property previously housed the Daily Sun for nearly 50 years. The interior configuration and mixed-use character can support a broad range of customer-facing and light industrial requirements for the right operator.
Located in downtown Flagstaff, the building is positioned for visibility and foot traffic during Flagstaff’s spring and summer seasons. It’s also about two miles from I-40, making it convenient for out-of-town visitors and travelers.
Built in 1945, the property previously housed the Daily Sun for nearly 50 years. The interior configuration and mixed-use character can support a broad range of customer-facing and light industrial requirements for the right operator.
Key Highlights
- 6,029 SF flexible commercial building with warehouse, shop, and studio potential
- 0.14‑acre lot at 417 W Santa Fe Avenue in downtown Flagstaff
- Central heating and central air
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$67,012
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,340,240
$1.3M
Cap Rate 7%
$957,314
$957.3K
Cap Rate 9%
$744,578
$744.6K
Market Conditions
NOI Build-Up for 6,029 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.5K $18.00/SF
− Vacancy
−$5.4K −$0.90/SF
EGI
$103.1K $17.10/SF
− OpEx
−$36.1K −$5.98/SF
NOI
$67.0K $11.11/SF
Area
Coconino County, AZ
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,340,240
Cap Rate 7%
$957,314
Cap Rate 9%
$744,578
Alternative Uses
Best Use
Flex RnD
$957.3K
$837.7K – $1.12M
NOI $67,012 @ 7.0% cap · market cap 3.44%
Second Best
Warehouse
$625.9K
$547.7K – $730.3K
NOI $43,816 @ 7.0% cap · market cap 2.25%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,675 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,734
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 86001, AZ
37,093
Population
15,364
Households
2.4
Avg Household Size
27
Median Age
55%
College-Educated
96%
High-School Grad
290.4 sq mi
ZIP Area
128
Density / Sq Mi
$62,587
Median Household Income
$24,346
Median Earnings
$1,505
Median Rent
$570,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Simply Delicious Catering — 408 E Rte 66, Flagstaff, AZ 86001
Frequently Asked Questions
What type of property is this?
Flex space - Centrally heated and cooled flex space with built-up, flat roof and cable available for a range of uses.
Where is this flex space located?
The property is located at 417 W Santa Fe Avenue Flagstaff, AZ.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 6,029 SF flexible commercial building with warehouse, shop, and studio potential; 0.14‑acre lot at 417 W Santa Fe Avenue in downtown Flagstaff; Central heating and central air
